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Federal input screens

Screen M3S - Financial Information When Assets More Than $10 Million (1120)

General Information

This applies only if end-of-year assets are less than $10 million.
UltraTax CS automatically prints Schedule M-3 if the total assets at the end of the year equal or exceed $10 million. If the total assets are less than $50 million, the corporation is not required to file Schedule M-3, or Form 8916-A. UltraTax/1120 prints the Schedule M-1 for all applicable S Corporation clients when you mark the
Complete Schedule M-1 in lieu of Schedule M-3, Parts II and III...
 field in Setup, 1120 Corporation, Other Return Options, then Other tab.
Enter
1
 in the
Complete Schedule M-1 in lieu of Schedule M-3, Parts II and III
 field in the M3S screen when the
Complete Schedule M-1 in lieu of Schedule M-3, Parts II and III...
 field in Setup, 1120 Corporation, Other Return Options, then Other tab is blank, but you want the Schedule M-1 to print instead of the Schedule M-3.
Enter
2
 in the
Complete Schedule M-1 in lieu of Schedule M-3, Parts II and III
 field in the M3S screen when the
Complete Schedule M-1 in lieu of Schedule M-3, Parts II and III...
 field in Setup, 1120 Corporation, Other Return Options, then Other tab is blank, but you want the Schedule M-3 to print instead of the Schedule M-1.
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